South-Eastern Asia: Areca Nut Market 2024

Areca Nut Market Size in South-Eastern Asia

The Southeast Asian areca nut market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Areca Nut Production in South-Eastern Asia

In value terms, areca nut production declined to $X in 2022 estimated in export price. Overall, production, however, saw a moderate expansion. The growth pace was the most rapid in 2016 when the production volume increased by 97% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Myanmar (X tons), Indonesia (X tons) and Thailand (X tons), with a combined 97% share of total production.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +2.3%), while production for the other leaders experienced mixed trends in the production figures.

In 2022, the average yield of areca nuts in South-Eastern Asia dropped remarkably to X tons per ha, shrinking by -20.1% compared with 2021. Overall, the yield continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 when the yield increased by 6.5% against the previous year. Over the period under review, the areca nut yield hit record highs at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of areca nuts production in South-Eastern Asia was estimated at X ha, approximately reflecting the year before. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 19%. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Areca Nut Exports

Exports in South-Eastern Asia

In 2022, areca nut exports in South-Eastern Asia fell significantly to X tons, shrinking by -34.5% compared with the previous year. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. As a result, the exports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, areca nut exports reduced sharply to $X in 2022. Overall, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 56% against the previous year. The level of export peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

Indonesia represented the largest exporter of areca nuts in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. 56% of total exports in 2022. Thailand (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Myanmar (19%). Singapore (X tons) took a little share of total exports.

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of areca nuts. At the same time, Myanmar (+31.9%) and Thailand (+5.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +31.9% from 2012-2022. By contrast, Singapore (-12.3%) illustrated a downward trend over the same period. While the share of Myanmar (+18 p.p.) and Thailand (+5.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-10 p.p.) and Indonesia (-13.4 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest areca nut supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 22% share of total exports. It was followed by Thailand, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia totaled +8.9%. In the other countries, the average annual rates were as follows: Myanmar (+39.8% per year) and Thailand (+7.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by 8.9% against the previous year. Export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, areca nut export price increased by +107.7% against 2013 indices. The pace of growth was the most pronounced in 2014 when the export price increased by 39%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.0%), while the other leaders experienced more modest paces of growth.

Areca Nut Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of areca nuts increased by 6.1% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports enjoyed a prominent increase. The growth pace was the most rapid in 2020 with an increase of 138%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, areca nut imports declined to $X in 2022. Overall, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 146%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Thailand dominates imports structure, reaching X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Singapore (X tons), making up a 7.7% share of total imports.

Thailand was also the fastest-growing in terms of the areca nuts imports, with a CAGR of +90.3% from 2012 to 2022. Singapore (-13.1%) illustrated a downward trend over the same period. Thailand (+91 p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by -84.5% from 2012 to 2022, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported areca nuts in South-Eastern Asia, comprising 89% of total imports. The second position in the ranking was taken by Singapore ($X), with an 8.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand totaled +98.7%.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, waning by -14.1% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the import price increased by 55%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.2%).

Source: IndexBox Platform

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